Letter of Support for the Nomination of Travis Hill

To the Members of the United States Senate:

            As the U.S. Senate considers the nomination of Acting Chairman Travis Hill to be the Chairman of the Federal Deposit Insurance Corporation (“FDIC”), the U.S. Chamber of Commerce (“Chamber”) offers the following observations.

            As demonstrated during the confirmation hearing and his current leadership at the FDIC, Acting Chairman Hill is a highly qualified nominee whose deep expertise and vision will ensure that the FDIC continues to uphold its critical mission of maintaining stability and public confidence in the nation’s financial system. We urge quick consideration by the full Senate of Acting Chairman Hill’s nomination, and we look forward to working with him upon his confirmation.

            In his confirmation hearing, Acting Chairman Hill emphasized the importance of a balance regulatory approach, stating, “When it comes to our regulatory and supervisory approach, I think at a high level, what we're really trying to achieve is modernizing our approach, being smarter about our approach, ensuring that we're the right balance between safety and soundness and economic growth.” Acting Chairman Hill’s commitment to this principle will be instrumental in steering the FDIC towards a balanced approach that benefits both consumers and businesses.

            As the Chamber outlined as part of its Growth and Opportunity Imperative, we believe it is critical that policymakers pursue an array of policies that collectively will help the United States return to sustained 3%+ economic growth. Acting Chairman Hill’s leadership will be pivotal in achieving this goal by ensuring that the FDIC’s regulations are fair and conducive to economic expansion.

            We look forward to working with the Senate and Acting Chairman Hill to support a stronger economy that will improve the lives of all Americans.